, Columnist
Keeping the Deutsche Wolf from Credit Suisse's Door
Thiam's shareholders should be sympathetic to a stock offering.
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Apres Deutsche Bank, le deluge. Credit Suisse is considering a 3 billion-franc-plus ($3 billion) share sale, according to Bloomberg News. A chunky number, but somewhat more palatable for shareholders than the $8.6 billion the German lender is demanding.
You certainly couldn't argue with CEO Tidjane Thiam's timing. Markets are buoyant and European banks are benefiting from the rebound in economic growth, inflation and interest rate expectations in the region. Credit Suisse Group AG shares had rebounded by almost 50 percent since July.